ASGN (NYSE:ASGN) Sets New 52-Week Low - What's Next?

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as $55.95 and last traded at $56.74, with a volume of 637077 shares changing hands. The stock had previously closed at $58.68.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of ASGN from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $101.75.

ASGN Trading Up 1.0 %

The company has a market capitalization of $2.65 billion, a P/E ratio of 15.82 and a beta of 1.20. The business has a 50 day moving average price of $68.07 and a 200 day moving average price of $82.67. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. ASGN had a net margin of 4.27% and a return on equity of 13.22%. Analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current year.

Institutional Investors Weigh In On ASGN

Large investors have recently modified their holdings of the business. J.Safra Asset Management Corp lifted its holdings in shares of ASGN by 48.1% during the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock valued at $36,000 after purchasing an additional 139 shares in the last quarter. Cim Investment Management Inc. bought a new position in ASGN in the third quarter valued at approximately $205,000. Entropy Technologies LP acquired a new position in shares of ASGN in the fourth quarter valued at approximately $299,000. Cibc World Markets Corp bought a new stake in shares of ASGN during the fourth quarter worth $337,000. Finally, Argent Capital Management LLC raised its holdings in shares of ASGN by 31.6% during the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after acquiring an additional 3,339 shares during the period. 95.36% of the stock is currently owned by institutional investors.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.